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Gap Insurance

If your vehicle is declared a Total Loss, a GAP Insurance policy will either pay the difference between your Comprehensive Insurance settlement and settling your outstanding finance, or pay back to your original purchase price or replace it.

Benefits of Gap Insurance – 3 levels of cover:-

  • Finance Gap Insurance - covers the gap between the total loss offer of your insurer and the total you still owe to your finance company. This kind of insurance is often offered by car dealers when you purchase a new car, but don`t rush into this first offer, as speaking to us will probably result in you getting a better deal than via the dealership.
  • Return to Invoice Gap Insurance - covers the difference between the total loss offer from your insurer and the original price you paid for your car as listed on the invoice. This will cover the entire sum you originally paid for the car, which is particularly helpful during these financially straining times.
  • Vehicle Replacement Gap Insurance - allows you to purchase a new car by bridging the gap between the total loss offer from your insurer and the latest market cost of a new car. This helps account for changes in the price of new cars.

If you are going to be financing your next car purchase, don’t be one of the 24,000 drivers in the UK with insufficient insurance cover on your car or LCV – speak to us about Gap insurance when we are arranging finance on your purchase.